Build Rent Rehab Refi Repeat (BRRRR process)

[Dominykas Bickus]

Hello All, 

I am new to the forum here, looking to gain some valuable knowledge and expand my professional network. My name is Dominykas Bickus, 24, and work for an asset management firm here in Chicago. Recently, Real Estate Investing has become my new obsession. I am looking to acquire my first property in the next 90 days. Looking for tips/advice in regards to execution. 

My specific question relates to the BRRRR method, specifically, the "R" in Refinance. Few questions:

1. How quickly are you able to refinance? From my understanding, once you have purchased the place and rented it, you are able to get the property appraised and refi at that time to pull out the down-payment and construction costs? Is this true.. seems like I am missing something

2. Any recommendations for local banks/brokers in Chicago that are experts in the BRRRR process?

3. Thoughts on using FHA for investment property? What are other methods for getting into the game with minimal capital down?

Looking forward to connecting!